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GAIL and Gujarat Alkalies to set up 500 KLPD Bio Ethanol Plant in Gujarat

GAIL (India) Ltd and Gujarat Alkalies & Chemicals Limited (GACL) have signed an MoU for setting up 500 KLPD Bio Ethanol Plant in the state of Gujarat
GAIL and Gujarat Alkalies to set up 500 KL per day Bio Ethanol Plant in Gujarat
GAIL and Gujarat Alkalies to set up 500 KL per day Bio Ethanol Plant in Gujarat

New Delhi: GAIL (India) Limited and Gujarat Alkalies and Chemicals Limited have (GACL) inked a memorandum of understanding (MoU) for setting up a 500 KL per day Bio Ethanol Plant in Gujarat.  The MoU was signed on Friday in the presence of the Chief Minister of Gujarat Bhupendrabhai Patel. "The MoU is for setting up 500 KL per day Bio Ethanol Plant and exploring other business opportunities of mutual interest", GAIL announced in a regulatory filing to the stock exchanges.

Earlier, in April, GAIL had invited Expression of Interests (EoIs) for partnering to set up a ~ 500 Kilo litres per day (KLPD) 1G grain-based ethanol plant for producing ethanol. As per GAIL's EoI document, this plant, after completion, will be sold to Oil Marketing Companies (OMCs) for further blending with petrol.

"A Joint Venture (JV) will be formed between GAIL and qualified bidder (In current case Gujarat Alkalies) for the above said purpose, in which GAIL would hold an equity of up to 50 percent or shall take equity (at par value) in an already formed new company", GAIL had said in its EoI document.

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GAIL (India) Limited is a Maharatna PSU and a leading natural gas company with a presence in the entire natural gas value chain comprising of exploration & production, LNG imports, gas transmission & marketing, gas processing, petrochemicals, LPG transmission and city gas distribution. It has a market capitalisation of over Rs 61,000 crores (as of 31st March 2021). GAIL’s turnover for the year ended 31st March 2020 was approx. Rs 72,400 crores with a profit after tax of Rs 9,422 crores..

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